As per the latest amendment of section 44AB the limit of tax audit for professionals has been raised from “ten lakh rupees”to “fifteen lakh rupees”, kindly tell me as to which A.Y. would this amendment apply? Is it applicable for the A.Y. year 2010-2011
Hello Balreet,
The limit for AY 2010-11 is 10 lakh only.
ya, this is effective from A.Y 2011-12, So for A.Y 2010-11, limit is 10 lacs
| Originally posted by : raju365 | ||
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ya, this is effective from A.Y 2011-12, So for A.Y 2010-11, limit is 10 lacs |
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From A.Y. 2011-12 (i.e. F.Y. 2010-2011).
The tax audit limit increased from 10 lacs to 15 lacs applicable from A.Y 11-12 i,e F.Y 10-11u/s 44AB
yes, this is effective from A.Y 2011-12
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